What Is a Business Succession Plan?
Do you have a will? Have you thought about how you would take care of your family if something happened to you? Have you given any thought to retirement?
Well, the same thought process needs to go into your business. If the unthinkable were to happen such as a car wreck, or becoming ill with COVID-19, how would your business continue? Who would open your store? Run payroll? Order supplies? Pay vendors? Manage employees? Savvy business owners know that a good business succession plan means the business has a plan when the unthinkable happens.
It’s not all doom and gloom though. A concise business succession plan puts your business in great shape for selling it later- which translates into a more prosperous retirement for you!
Join Attorney Ian Alden and Financial Planner Nic Baker as they lead business owners through a virtual workshop that explains the details of planning and funding a successful business succession plan.
The workshop is accessible on line through the L4SB YouTube Channel.
Watch Part One HERE
Watch Part Two HERE